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PPP Loan Data — Trans-Matic MFG Co, Inc, Holland, MI

SBA PPP loan data, payroll data, and salaries for Trans-Matic MFG Co, Inc
MI

Trans-Matic MFG Co, Inc

Entity: Corporation

Industry: Motor Vehicle Metal Stamping

Location: Holland, MI

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Trans-Matic MFG Co, Inc is a corporation located at 300 East 48th Street in Holland, Michigan that received a Coronavirus-related PPP loan from the SBA of $4,136,500.00 in April, 2020.

$ PPP Loan Information

Loan Size:

$4.14M

Jobs Retained:

0 Unreported

Loan Approved:

2020-04-12

Lender:

PNC BANK, NATIONAL ASSOCIATION

Trans-Matic MFG Co, Inc received a Paycheck Protection Loan of $4.14M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Trans-Matic MFG Co, Inc's total 2019 payroll expenses were approximately $19.86M in order to qualify for the PPP loan amount received.

Unlike most businesses, Trans-Matic MFG Co, Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Because the loan received by Trans-Matic MFG Co, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Trans-Matic MFG Co, Inc in Holland, MI

Trans-Matic MFG Co, Inc
300 East 48th Street
Holland, MI 49423

Business Industry

Motor Vehicle Metal Stamping (NAICS code 336370)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: MI-02

Industry PPP Comparison Statistics

Nationwide, 197 businesses in the "Motor Vehicle Metal Stamping" industry received a total of $211,847,677.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 76 employees, and received an average PPP loan of $1.08M, 74% lower than this company's loan of $4.14M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/trans-matic-mfg-co-inc-holland-mi